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Lisa Lynn Decker, the Chief Business Officer of IGM Biosciences, Inc. (NASDAQ:IGMS), recently sold 4,512 shares of common stock. The sale occurred on March 14, 2025, at a weighted average price of $1.23 per share, amounting to a total transaction value of $5,549. The transaction comes as the company’s stock trades near its 52-week low of $1.17, having declined over 88% in the past year. According to InvestingPro analysis, the stock appears undervalued at its current market cap of $72.3 million.
The shares were sold to cover tax withholding obligations related to the vesting of restricted stock units. Following this transaction, Decker holds 73,529 shares directly. The sale involved multiple trades, with prices ranging from $1.19 to $1.28 per share. InvestingPro data reveals the company maintains a strong current ratio of 5.14, though it carries a weak overall financial health score. Discover 14 additional exclusive ProTips and comprehensive analysis in the Pro Research Report, available with an InvestingPro subscription.
In other recent news, IGM Biosciences has made significant announcements impacting its operations and future prospects. The company revealed it would halt the development of two drug candidates, imvotamab and IGM-2644, which were central to its treatment pipeline for autoimmune diseases. Following this announcement, Truist Securities and Morgan Stanley (NYSE:MS) both significantly cut their price targets for IGM Biosciences to $2.00, while maintaining a Hold rating and downgrading to Underweight, respectively. Stifel also downgraded the stock from Buy to Hold, reducing the price target to $2.50, citing the discontinuation of the TCE programs as a primary factor.
The halted projects have led to a major workforce reduction of over 70%, as IGM Biosciences explores strategic alternatives. Despite these setbacks, the company continues its collaboration with Sanofi (NASDAQ:SNY), which focuses on IgM-based agonists for autoimmune and inflammatory diseases. This partnership could potentially yield over $3 billion in milestone payments, offering a glimmer of hope for future value creation. Analysts from Stifel and Truist have noted that the collaboration with Sanofi remains a critical component of IGM Biosciences’ strategic outlook.
The company’s recent decisions have prompted a reassessment of its valuation and strategic direction, reflecting the challenges it faces in advancing its clinical programs. Investors are closely monitoring how IGM Biosciences will navigate these changes and leverage its partnership with Sanofi to rebuild its pipeline.
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